South Carolina, January 30, 2026
The impending closures of Saks OFF 5TH stores in South Carolina mark a transformative period for the retail sector. This shift presents significant challenges and opportunities for local entrepreneurs. As Saks Global restructures amidst bankruptcy, existing small businesses may flourish as they fill the void left by the departed retailer, potentially fostering new investment and growth within Beaufort County. Local real estate remains stable and adaptable, reflecting the resilience of the community will to innovate and thrive.
Hilton Head Island, SC –
SC Saks Off 5TH Closures Reshape Retail Landscape
The upcoming closures of Saks OFF 5TH stores across South Carolina signal a significant shift within the retail sector, presenting both challenges and new opportunities for communities and local entrepreneurs. This development underscores the dynamic nature of the market and highlights the importance of adaptability and innovation for sustained economic vitality.
The retail environment is in a constant state of evolution, where established models are periodically re-evaluated to meet changing consumer demands and market pressures. While the departure of a prominent retailer like Saks OFF 5TH marks the end of an era for some, it simultaneously opens doors for agile South Carolina SC entrepreneurs and existing Hilton Head small business ventures to expand, innovate, and redefine the local commercial landscape. This natural market adjustment can foster new avenues for economic growth and entrepreneurial achievement within Beaufort County and beyond.
Saks OFF 5TH Stores to Close in South Carolina
Saks OFF 5TH, the off-price division of Saks Fifth Avenue, is preparing to close its doors at two key South Carolina locations. The affected stores include the Saks OFF 5TH in the Tanger Outlet Center in North Charleston and another in the Tanger Outlet Center in Bluffton. These closures are expected to occur soon, with many locations nationally initiating sales by late January 2026, and other closures planned for early February 2026.
Nationwide Restructuring Drives Retail Adjustments
The decision to close these South Carolina stores is part of a broader, nationwide strategic restructuring by Saks Global, the parent company. This initiative includes the closure of most Saks OFF 5TH locations, with 57 stores out of 69 slated to shutter across the country, leaving only 12 remaining. This comprehensive strategy also involves the winding down of the saksoff5th.com website. The restructuring follows Saks Global’s filing for Chapter 11 bankruptcy protection, a move aimed at refocusing on its core luxury and full-price retail businesses. The company incurred substantial debt after acquiring Neiman Marcus in 2024 for approximately $2.65 billion, which significantly influenced this strategic pivot. This move reflects an “ongoing and comprehensive strategy” to critically assess its physical store footprint to better position the business for long-term success.
South Carolina’s Enduring Retail Resilience
Despite national retail shifts and closures, South Carolina’s commercial real estate market, particularly the retail sector, demonstrates notable stability. Reports indicate that the state’s retail real estate market is showing signs of stabilization, with vacancy rates projected to remain steady at approximately 4.1% throughout 2025. Historically, the impact of national retailer bankruptcies on South Carolina has been subdued, as many former retail spaces have been quickly backfilled or repurposed for active use. This resilience is supported by South Carolina’s reputation as a business-friendly state, characterized by competitive wage structures, comprehensive incentive programs, and the absence of state property tax, local income tax, and inventory tax.
New Pathways for Beaufort County Economy
The availability of these commercial spaces presents unique opportunities for the Beaufort County economy. Rather than signaling a contraction, these vacancies can serve as catalysts for new private investment and local entrepreneurial innovation. Local businesses, unburdened by the complexities of national corporate strategies, are often more agile and attuned to the specific needs and preferences of their communities. These spaces can be re-envisioned for novel retail concepts, service providers, or mixed-use developments, contributing to the diversity and vibrancy of the local economy.
Fostering Hilton Head Economic Growth Through Local Ventures
The resilience observed in the broader South Carolina market is mirrored in Hilton Head SC business trends. Hilton Head Island has demonstrated its capacity for economic growth, evidenced by the opening of 160 new businesses in 2024. This local entrepreneurial drive is crucial, transforming challenges into opportunities for expansion and job creation. By nurturing a supportive environment, communities can encourage South Carolina SC entrepreneurs to fill market gaps and contribute to the area’s distinct character. This ongoing growth illustrates how local innovation and leadership are vital components in boosting job creation and ensuring sustained business success, driving forward Hilton Head economic growth.
Embracing a Future of Local Business Excellence
The closures of Saks OFF 5TH stores in South Carolina, while reflecting broader national retail transformations, also highlight the enduring strength and adaptability of the state’s and Hilton Head’s local economies. This period of adjustment offers a valuable opportunity to support and foster the growth of new and existing Hilton Head small business ventures. By embracing entrepreneurial innovation and maintaining a business-friendly environment, communities can ensure that these evolving retail spaces are quickly re-energized, contributing to a robust and diverse local marketplace. We encourage our readers to actively support local businesses and remain engaged in the ongoing development of Hilton Head’s vibrant economic future.
Frequently Asked Questions
What Saks off-price stores are closing in South Carolina?
Saks OFF 5TH stores are closing in the Tanger Outlet Center in North Charleston and the Tanger Outlet Center in Bluffton, South Carolina.
When are the Saks OFF 5TH stores in South Carolina closing?
Most Saks OFF 5TH locations will shutter over the next few weeks, with some sales starting January 31, 2026, and other closures planned for early February 2026.
Why are Saks OFF 5TH stores closing nationwide?
Saks OFF 5TH stores are closing nationwide as part of a strategic restructuring by Saks Global, following its filing for Chapter 11 bankruptcy protection. This move is intended to refocus on core luxury and full-price retail businesses, influenced by debt from the 2024 acquisition of Neiman Marcus for approximately $2.65 billion.
What is the broader impact of these closures on the retail market?
Most of the 69 Saks OFF 5TH locations (57 stores nationwide) will close, leaving only 12 remaining. The saksoff5th.com website will also shut down.
How is South Carolina’s retail real estate market responding to national closures?
South Carolina’s retail real estate market is showing signs of stabilization, with vacancy rates expected to remain steady at approximately 4.1% throughout 2025. Many former retail spaces from national closures have been quickly backfilled or returned to active use in South Carolina.
Key Features of Saks OFF 5TH Closures
| Feature | Description | Scope |
|---|---|---|
| Brand Closing | Saks OFF 5TH (off-price division of Saks Fifth Avenue) | Nationwide |
| South Carolina Locations Closing | Tanger Outlet Center in North Charleston and Tanger Outlet Center in Bluffton | State-level |
| Closure Timeline | Sales starting January 31, 2026; other closures early February 2026 | Nationwide |
| Primary Reason for Closure | Strategic restructuring and Chapter 11 bankruptcy protection by Saks Global | Nationwide |
| Number of Stores Closing | 57 out of 69 Saks OFF 5TH locations (leaving 12 remaining); saksoff5th.com also closing | Nationwide |
| Impact on SC Retail Real Estate | Retail real estate market in South Carolina showing stabilization; vacancy rates expected to remain steady at 4.1% through 2025; many former spaces quickly backfilled | State-level |
| SC Business Environment | Business-friendly with low corporate tax rates, competitive wages, no state property tax, local income tax, or inventory tax | State-level |
| New Business Growth (SC) | 50% increase in new likely employer business applications in 2023 compared to 2019 (approx. 71,835 new businesses) | State-level |
| New Business Growth (Hilton Head) | 160 new businesses opened in Hilton Head Island in 2024 | Local |
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Author: STAFF HERE HILTON HEAD
The HILTON HEAD STAFF WRITER represents the experienced team at HEREHiltonHead.com, your go-to source for actionable local news and information in Hilton Head Island, Beaufort County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the RBC Heritage golf tournament, Hilton Head Island Wine & Food Festival, and the Gullah Celebration. Our coverage extends to key organizations like the Hilton Head Island-Bluffton Chamber of Commerce and Community Foundation of the Lowcountry, plus leading businesses in tourism and hospitality that power the local economy such as Sea Pines Resort and Sonesta Resort Hilton Head Island. As part of the broader HERE network, including HEREAiken.com, HEREBeaufort.com, HEREChapin.com, HERECharleston.com, HEREClinton.com, HEREColumbia.com, HEREGeorgetown.com, HEREGreenwood.com, HEREGreenville.com, HEREHiltonHead.com, HEREIrmo.com, HEREMyrtleBeach.com, HERENewberry.com, HERERockHill.com, and HERESpartanburg.com, we provide comprehensive, credible insights into South Carolina's dynamic landscape.
